101 results for “penalty u/s 271”+ Section 40clear
Sorted by relevance
Key Topics
Showing 1–20 of 101 · Page 1 of 6
In the result, the appeal of the assessee is partly allowed
Bench: Us Challenging The Levy Of Penalty Both On Legal Ground As Well As On Merits Of The Case :
Section 194C rws 40(a)(ia) which the assessee did not shown in his Profit & Loss Account as receipts.” By not showing his gross receipts, the assessee is guilty of concealment and furnishing of inaccurate particulars of income. Penalty proceedings u/s 271